Posts Tagged ‘Mumbai’

Obstacles in Road Widening Project in Pune are likely to be cleared

Thursday, March 14th, 2013

The meeting between officials of the Public Works Department (PWD) and the National Highway Authority of India (NHAI) are likely to clear the obstacles in the way of widening of state and national highways that pass through the district. According to Vikas Deshmukh, the district collector, “the Pune-Nashik national highway, the Pune-Saswad-Jejuri state highway, and the Talegaon-Chakan-Shikrapur-Navhara road projects have been delayed due to villagers’ opposition to acquisition of land. I have now asked officials concerned to hold discussions with villagers and initiate land acquisition process on priority. The officials will get police protection if required.” He also added that the traffic on national and state highways that pass through Pune has been increasing, especially that of heavy vehicles, which need to be streamlined urgently. The government has planned to widen the Pune-Nashik highway and the Pune-Saswad-Jejuri highway to four lanes from the existing two lanes. Besides, there is a plan to widen the Talegaon-Chakan-Shikrapur-Nhavra road to four lanes.

The widening of the Pune-Nashik highway will reduce frequent traffic jams at Narayangaon, Chakan, Alephata. The four laning of the Talegaon-Shikrapur road will also reduce the number of heavy vehicles entering the city, as vehicles coming from Mumbai will get direct access to Ahmednagar and Solapur highways.

The Road widening project in Pune district is as follows:-

  • Four laning of the Pune-Nashik highway
  • Four laning of the Pune-Saswad-Jejuri state highway
  • Expansion of the Talegaon-Chakan-Shikrapur-Navhara road
  • Bypass from Talegaon to Chakan MIDC
  • Four laning of the Baramati-Phaltan Road

Government To Withdraw Stamp Duty Relaxation of Stock Exchange

Thursday, May 19th, 2011

The finance ministry has noted that the while some of the exchanges like NSE and BSE have taken advantage of the relaxation and demutualised, many others have not done so. To put pressure on the ones that have not yet done so, government has decided to withdraw the stamp duty relaxation available to stock exchanges on demutualisation.

NSE and BSE have taken advantage of the relaxation and demutualised, many others have not done so. The ministry feels putting a sunset clause to Section 8B will put pressure on others to demutualise. The States will also be able to revise periodically the market value guidelines of lands, buildings and various kinds of interests in immovable property for determining the duty chargeable at the time of registration once the bill is passed by Parliament and notified.

The bill has also proposed a new system of levy and collation of stamp duty on transactions relating to securities. Under the new law, states will have the power to increase stamp duty on mining leases if the royalty payments exceed the levels assumed at the time of the lease. Leases are usually for long duration and sometimes extend to about 100 years. States had expressed concerns over losing revenue and had sought additional powers to reassess duty. The new rule will help states get higher revenues from leasing out of mines, a big source of revenue of resource increasingly seen as an important revenue resource for states.

More News:  housechennai.com

Maharashtra State Government Encourage Cluster Redevelopment

Friday, May 6th, 2011

The state government amended Development Control (DC) rules in the city encouraging cluster redevelopment. Cluster development is developing an area comprising several buildings rather than individual structures.

In a recent move, Maharashtra Chief Minister Prithviraj Chavan has asked state officials to work out a plan under which cluster development right can be auctioned to the developer by the government instead of developers getting consent from residents. Cluster development is developing an area comprising several buildings rather than individual structures on a minimum one-acre plot. Aimed at redevelopment of cessed buildings and rehabilitation of slums, the state government amended Development Control (DC) rules in the city encouraging cluster redevelopment.

In 2009, Ashok Chavan, the then Chief Minister, had announced a floor space index (FSI) as high as four for redevelopment under the scheme. While it was an obvious bonanza for the builders, however, they were also obliged to provide amenities like parks and roads.

“While till recently, mill land redevelopment were the only major opportunity for large land parcel development in central Mumbai, cluster development has brought many opportunities to developers especially in south and central Mumbai where there’s limited free space for fresh development,” says Ravi Ahuja, Executive Director, Development Services, India, Cushman & Wakefield.

A project at Currey Road Mumbai and Parel Mumbai respectively, while another one proposed at Mahalaxmi are examples of cluster development in the city. These proposed redevelopments projects are coming up with multiple high-rise structures with a project schedule spanning over four years. While the decision is expected to bring an increased supply and curb high realty values in the city, developers, however, are expected to face major challenges in executing these projects.

More News:  commonfloor.com